Today, we're excited to announce the close of our Series D round of funding, raising $110 million at a $1.2 billion valuation. In marketing parlance, that means FloQast is officially a “unicorn,” and we couldn’t be more excited.
The round was led by Meritech Capital with participation from Redpoint Ventures, Sapphire Ventures, Coupa Ventures, and continued participation from prior investors including Insight Partners, Polaris Partners, and Norwest Venture Partners.
But if you had asked me just a few months ago how I planned to approach our next round of funding, it wouldn’t have looked like this. The truth is that we never actually started this cycle of funding.
Thanks to the tremendous feedback they received from portfolio companies using FloQast, venture capital firms started reaching out to us about our next round of funding before we planned on actively fundraising. While I was hesitant at first — our Series C and stellar momentum in 2020 have us in a great spot — the opportunity ahead of us from both a product and market perspective is considerable enough that we decided now was the time to strike.
This round of funding would not have happened without our users — without them, we would not have been able to maintain the momentum we had pre-pandemic. Simply put: FloQast users are why such prestigious VCs started reaching out and why the demand to participate in our Series D was so high.